Richard Downs, the co-founder of Old Broad Street Research (OBSR), is to take early retirement on October 22.
The move comes after the sale of the firm to Morningstar.
“It’s time for me to slow down the hectic pace of my life”
Co-founder Richard Romer-Lee, currently research director, is to become a joint managing director with Nigel Whittingham, currently development director.
Downs says: “OBSR has been a major part of my life, so it is not without sadness that I announce my retirement. Morningstar’s acquisition has progressed well, affording me the opportunity to retire earlier. It’s time for me to slow down the hectic pace of my life.” (article continues below)
Romer-Lee adds: “His knowledge of the industry and sharp intellect has been of enormous personal assistance to me and everyone at OBSR, and will continue to be of value to Morningstar.”
Downs and Romer-Lee founded OBSR – an investment research company that also provides fund ratings – under a management buy-out of Buck Consultants’ research business in 1999.